Thursday Morning Briefing

Reuters Staff

10 Min Read

Canada is growing increasingly concerned that Trump will pull out of NAFTA, South Korea reveals plans to ban cryptocurrency trading and a special report explores how U.S. courts help companies keep sexual misconduct under cover.

Jordan Jtakin walks though a 5G wireless broadband technology display in the Intel booth during the 2018 CES in Las Vegas, Nevada, U.S. January 9, 2018. REUTERS/Steve Marcus

NAFTA

Canada is increasingly convinced that President Donald Trump will soon announce the United States intends to pull out of NAFTA, two government sources said on Wednesday, sending the Canadian and Mexican currencies lower and hurting stocks. Read the exclusive.

A NAFTA termination letter from Trump could become the ultimate sleight of hand from Washington as it seeks to gain negotiating leverage over Canada and Mexico in talks to update the 24-year-old trade pact.

Chinese President Xi Jinping welcomed recent progress in inter-Korean talks during a telephone call with South Korean President Moon Jae-in, the South’s Blue House said in a statement.

The Kremlin described a report published by Democratic U.S. lawmakers accusing Russia of election meddling as damaging for bilateral relations, as well as for the United States itself.

Britain, France, Germany and the European Union made a joint call to the United States to protect the Iran nuclear pact, saying Tehran had a right to benefit from the lifting of sanctions tied to it.

North Korea’s late announcement it will send a large delegation to next month’s Winter Olympics in South Korea has eased concerns over any Pyongyang threat during the games, but it does create headaches for planners over accommodations and security.

Commentary

Kim Jong Un's diplomatic offensive doesn't signal a change in his approach to Seoul or the United States, writes Peter Apps. While this week's talks between the two Koreas were "mildly positive," Kim's real agenda may be "a deliberate and increasingly successful strategy to drive a wedge between Washington and South Korea."

India's Border Security Force (BSF) "Daredevils" women motorcycle riders perform during a rehearsal for the Republic Day parade on a cold winter morning in New Delhi, India, January 10, 2018. REUTERS/Adnan Abidi

United States

When the U.S. Justice Department said last week it was reversing policy on the $7 billion marijuana business, it failed to first notify federal officials who advise banks in states where the drug is legal, sources in Congress said.

Trump blasted the federal court system as “broken and unfair” after a judge blocked his administration’s move to end a program protecting young immigrants brought to the United States illegally by their parents.

Women sexually harassed on the job sometimes decide to hold their abusers – and their employers – accountable in court. But quite often, judges let companies keep their secrets. Read the report on how courts help companies keep sexual misconduct under cover.

Business

Worries about a U.S.-led trade war put world stocks at risk of their first two day loss of the year on Thursday, while bond markets bounced as China poured cold water on reports that it might stop buying U.S. debt.

South Korea’s government said it plans to ban cryptocurrency trading, sending bitcoin prices plummeting and throwing the virtual coin market into turmoil as the nation’s police and tax authorities raided local exchanges on alleged tax evasion.

Delta Air Lines reported an 8 percent drop in its fourth-quarter profit and forecast total unit revenue, a closely watched performance metric, to increase 2.5-4.5 percent in the first quarter of 2018.

Tech

Nvidia is updating the software for its graphics processors in response to the Spectre security threat, but its chief executive said its chips were not subject to the same risks as those from Intel and other companies.

Taxify, Uber’s upstart European-based rival, is looking to expand during the coming year outside of the biggest cities in the more than 20 countries where it now operates into secondary markets, Chief Executive Markus Villig said.

The chairman of a U.S. Senate committee overseeing business issues asked Apple Inc to answer questions about its disclosure that it slowed older iPhones with flagging batteries, according to a letter seen by Reuters.